This agreement is used when a Licensor has made certain new and useful innovations. The agreement gives the Licensee a license to exploit these new and useful innovations in the marketplace and make a profit from them.
Michigan Patent License Agreement
State:
Multi-State
Control #:
US-CP5B11
Format:
Word;
PDF;
Rich Text
Instant download
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How to fill out Michigan Patent License Agreement?
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FAQ
Owning a patent or pending patent application is usually a condition for licensing. Without legal ownership rights to an invention, you do not have the right to stop others from making, using or selling the invention, and therefore do not have a valuable asset for which others are likely to want to pay.
In short, a patent license agreement is a legal contract created to define the terms under which a licensee may create, sell, and use a patented invention from a licensor (or patent owner). This agreement also spells out how royalties will be paid to the licensor/patent owner.
Licensing is a process where the owner of the product gives permission to another entity who can extract benefit from the licensed product. Same as that licensing a patent means the owner is giving access to another individual or organisation to make, use and sell etc. with his patented invention.
Licensing agreements are found in many different industries. An example of a licensing agreement is a contract between the copyright holders of software and another company, allowing the latter to use the computer software for their daily business operations.
Practitioners and licensing executives often refer to three basic types of voluntary licenses: non-exclusive, sole, and exclusive. A non-exclusive licence allows the licensor to retain the right to use the licensed property and the right to grant additional licenses to third parties.
Types of licensing agreement The unique feature of this type of agreement is that even the licensor is excluded to use or exploit the licensed property during the term of the agreement. Copyright, trademark and patent licenses are the best examples of an exclusive license agreement.
A patent owner can license or transfer interest in a patent. The licensor gives up the right to the intellectual property, usually for a certain period. During this time, the licensee can make or sell the invention or design. The licensee can also profit from the intellectual property during the license period.
Examples of licenses include a company using the design of a popular character, e.g. Mickey Mouse, on their products. Another example would be a clothing manufacturer like Life is Good licensing its designs and brand in a certain country to a local company.
An assignment of patent is a transfer of all the proprietary rights by the patentee to the assignee. Simultaneously, the license is the right granted to work the invention by withholding the patentee's proprietary rights.
A licensing agreement is a contract between two parties (the licensor and licensee) in which the licensor grants the licensee the right to use the brand name, trademark, patented technology, or ability to produce and sell goods owned by the licensor.
More info
Copies of the Purchase Agreement and the Patent License Agreementagreement, dated January 25, 2013, among University of Michigan, ... 6. LICENSE AGREEMENTS. 2003 License Agreement with the University of MichiganAgreement expires upon the expiration of the last covered patent.Technology transfer and commercializationA substantial amount of research is being conducted at Western Michigan University resulting in new findings, Worldwide exclusive license agreement for patents related to UM OTT File Nos. 4306, 4422, 4462 for all fields of use. CSquared Innovations LLC will obtain use ... Within fourteen (14) days from complete execution of this Agreement, LICENSEE shall pay MICHIGAN all of the Back Patent Costs which are ... EATON COUNTY GEOSPATIAL DATA LICENSE AGREEMENT. As a convenience, the County of Eaton, Michigan (?County?) makes this collection of. Note: This booklet is based on the University of Michigan's ?Inventor's Guide to Technology Transfer,?a license agreement in which the Univer-. Note: This booklet is based on the University of Michigan's ?Inventor'sTechnology is typically transferred through a license agreement in which the ... As an attorney licensed in both Michigan and Florida, I also advise clients on real estate issues affecting businesses and individuals owning real property in ... This grant shall be binding upon LICENSOR, its Affiliates, successors and assignees. LICENSEE does not have the right to sublicense the Licensed Patents unless ...